Bill Aims To Help Merchants Slash Credit Card Fees

Law360, New York (June 4, 2009, 12:00 AM EDT) -- A revised bill introduced Thursday in the U.S. House of Representatives would allow merchants to negotiate with banks to reduce interchange fees associated with credit card purchases, which merchants claim are anti-competitive, but reportedly would eliminate several provisions under fire from banks and payment card networks.

The Credit Card Fair Fee Act of 2009, sponsored by House Judiciary Committee Chairman John Conyers, D-Mich., and Rep. Bill Shuster, R-Pa., aims to rein in the interchange fees, which merchants claim are a threat to businesses, Reuters reported Thursday....
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